Public Funding Approved

The Yankees and the Mets won their fight to get additional public funding for their new ballparks. The additional funding was approved by the City Industrial Development Agency, allowing both teams to save millions in interest rates.

The Yankees were granted another $259 million in tax-exempt bonds and $111 million in taxable bonds, on top of $940 million in tax-exempt bonds and $25 million in taxable bonds already granted for its $1.5 billion new Yankee Stadium in the Bronx.

The Mets got an additional $83 million, after the $615 million already approved for $800 million Citi Field.

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As I stated in earlier posts, I did not support the Yankees or the Mets receiving this money, I feel they have received enough public funding. If this doesn’t keep beers at the stadium under $10, I am going to be pissed.